EU to Enhance SMEs’ Growth in Nigeria

Promoting Small and Medium Enterprises (SME’s) will be beneficial to boost economic growth by significantly reducing poverty through job creations. If well-established by the government, it has the capacity to grow a country’s GDP, generate taxes as well as aid in the stability of the country, likewise contributing to a healthy market competitiveness, giving room for the corporate world to take advantage from the exceptional goods and services it offers for expansion. During the ongoing Lagos International Trade Fair (LITF) which started on November 3^rd, Mr Jean-Jacques Lennon, the EU Senior Manager said in an interview with the News Agency of Nigeria (NAN), that the European Union (EU) will enhance Small and Medium Enterprises (SME’s) in Nigeria through forging of linkages and partnerships with business innovators. Mr Jean said that some EU initiatives seek to assist SME’s to access international markets and enhance their growth potential. According to him, EU sees great prospects in Nigeria’s economy and wants to seize the business opportunities provided on the platform of the Lagos International Trade Fair (LITF) to upscale business activities for SMEs. Officially for the first time in 31 years of the fair, the EU got a pavilion and brought exhibitors to the fair. Lennon said that Nigeria was listed as one of the 11 countries that EU, through its SME Instrument Overseas Trade Fairs Programme, would showcase innovations and commercialize its technology. He added that the fair is recognized as an authentic platform where investors and innovators from EU could combine and work together towards boosting economic growth. Additionally, Lennon said that some of the technologies exhibited by nine EU innovators would improve activities in agriculture, waste management, weather forecast, renewable energy, food safety and genetic services. He urged the Federal Government to continue with the policies and reforms that would create an enabling environment to attract investments into the country. The LITF is an annual event organized by the Lagos Chamber of Commerce and Industry (LCCI) according to NAN.   Featured image credit: The Nation Onlineng.com

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This article was first published on 8th November 2017 and updated on November 15th, 2017 at 3:30 pm

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